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Trump friends Roth, Silverstein bid on $2B FBI headquarters

Vornado Realty Trust and Silverstein Properties are bidding to develop the Federal Bureau of Investigation’s new $2-billion headquarters outside Washington, D.C, but their personal ties to President-elect Donald Trump could complicate matters. Vornado’s CEO Steve Roth owns the majority stake in Midtown office tower 1290 Sixth Avenue, which Trump owns a non-controlling stake in. The business moguls are reportedly friends, and Roth has also struck business deals with Trump’s son-in-law and consigliere Jared Kushner. Roth … [more]

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Council likely to pass bill on deed restriction changes

Mayors will be required to personally approve changes or removals to city-imposed deed restrictions, under a new bill expected to pass the New York City Council on Tuesday. Under the proposed law, any changes to a deed restriction on a property will be reviewed by the Citywide Administrative Services, which will be required to run a land-use study with the Department of City Planning, consult local officials and hold a public hearing. The city will … [more]

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Corcoran partners with Juwai for exposure in China

New York real estate brokerages continue to tout their ties to China, even as China continues to sharply limit how much money its citizens can move out of the country. The Corcoran Group has inked a deal with, the so-called Zillow of China, to display its listings on the company’s website, Corcoran CEO Pam Liebman told The Real Deal. The move is designed to help Corcoran agents garner exposure for their listings in the … [more]

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Paydirt: JLL’s top I-sales team jumps to Colliers, VTS and Hightower’s arranged marriage, Nike kicks retail market into frenzy with pricey deal … & more

In many Eastern societies, the arranged marriage is still a thing. A bride and groom are stacked up on paper, and if enough boxes — family wealth, background, education, status — line up, a match is struck. The $300 million merger between VTS and Hightower, announced last week, seems like the perfect arranged marriage.  Both offer landlords and brokers a chance to manage their portfolios on the cloud, allowing users to track rent rolls, analyze … [more]

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Fortis’ 17-unit boutique condo at 100 Amity Street get AG’s OK

Fortis Property Group’s grand plan for the former Long Island College Hospital complex in Brooklyn hasn’t yet been unveiled, but the developer’s 17-unit condominium at 100 Amity Street now has the state’s stamp of approval. The New York State Attorney General’s office approved Fortis’ planned conversion of the landmarked Polhemus Building in Cobble Hill, which has a total projected sellout of $67.4 million. In addition to the 17 condos, plans call for 14 “other units,” … [more]

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Jack Rudin, chair of Rudin Management, dies at 92

Jack Rudin, a second generation leader of one of New York’s storied real estate dynasties, died on Sunday. He was 92. Rudin last served as chairman of Rudin Management Company, which he and his brother had led for a number of years. His father, Sam Rudin, had started the company in 1924, eventually passing on the business to Jack and his brother Lewis in the 1970s. As president of the company, Jack Rudin oversaw the … [more]

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Luxury market hit 2016 high with $372M in asking sales volume last week: Olshan

Is the city’s sagging luxury residential market starting to turn around? Last week saw 37 contracts signed for the over $4 million market, notching up more than $371.6 million in total dollar volume — a high for 2016, according to Olshan Realty. Out of the 37 contracts, 27 were for condominiums (with an average ask of $10.7 million). Seven were for co-ops ($7.6 million) and three were for townhouses ($9.5 million.) The top contract was … [more]

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WeWork raises the rent at Wall Street co-living space … by a lot

Starting January, beds at WeWork’s Wall Street co-living space will get a lot more expensive. WeLive studio apartments will rent for $3,050 per month (up from a current $2,000) and 4-bedroom pads will go for $10,000 (up from around $6,000) after the company’s discounted beta pricing expires, according to an email sent to residents over the summer and obtained by The Real Deal. “We’re incredibly pleased with the performance of WeLive,” a WeWork spokesperson told … [more]

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Trump to nominate Ben Carson as HUD Secretary

Ben Carson is set to become Secretary of Housing and Urban Development — provided Congress confirms him. President-elect Donald Trump sent out a statement that he intends to nominate the retired neurosurgeon and former GOP primary contender. Trump had offered Carson the post back in November, but the Detroit native took his time to formally accept. “Ben Carson has a brilliant mind and is passionate about strengthening communities and families within those communities,” Trump said … [more]

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JLL’s Baxter, Cohen and Latham leave for Colliers

UPDATED, Dec. 5, 12:56 p.m.: JLL’s leading investment sales brokerage team of Richard Baxter, Yoron Cohen and Scott Latham is jumping ship to Colliers International, the firm announced Monday. The move comes two months after Eastdil Secured’s Doug Harmon and Adam Spies, the city’s top brokers by deal volume, left for Cushman & Wakefield. “Colliers has an entrepreneurial culture, an exceptional track record of creating value for clients and a global platform that is second … [more]

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